Customized Insurance Services

An innovative, fast-growing specialty insurance company

Advantage Insurance Inc. (“Advantage”), through its operating subsidiaries, specializes in providing customized insurance services to high-net-worth individuals and business owners to serve their risk management and financial planning needs. Headquartered in Puerto Rico with office locations in the United States, Bermuda and Cayman Islands, Advantage has two primary lines of business: Life Insurance and Business Insurance. Advantage’s Life Insurance Segment issues life insurance and annuity policies on a private placement basis, and its Business Insurance Segment provides captive insurance management services.


Life Insurance

Specializing in Captive Insurance Management
  • Variable Universal Life
  • Variable Annuity
  • Open Architecture for Investment Funds
  • Life Insurance Subsidiaries:
      Advantage Life Assurance I.I. *
      Advantage Life Puerto Rico A.I.
      Advantage Life & Annuity Company SPC
      Advantage International Life Bermuda Limited
      Advantage International Life Insurance Limited
      Bermuda Life Worldwide Limited
  • * Effective January 1, 2022, U.S. Commonwealth Life, A.I. entered into a plan and agreement of merger under with Advantage Life Assurance I.I.

Business Insurance

Specializing in Captive Insurance Management
  • Traditional Captive Insurance
  • Group Captives
  • Risk Retention Group
  • Protected Cell Captives
  • Private Label Insurance Companies
  • Captive Risk Diversification
  • Broad range of domiciles and structures:
      South Carolina
      Puerto Rico
      Cayman Islands
      Other States

Our Approach

Our ability to focus intently on our clients’ needs distinguishes us from our competitors

Advantage Insurance is a leading independent specialty insurance services provider focused on the needs of high net-worth individuals and business owners. For over 25 years, Advantage has served large and small clients from its locations in Puerto Rico, the United States, Bermuda and the Cayman Islands with best-in-class insurance solutions. We offer a full range of captive insurance and private placement life insurance and annuity policies. As an independent company exclusively serving the needs of its clients, Advantage offers unbiased advice and access to best-in-class complementary service providers without the conflicts of a large insurance brokerage. Backed by the financial strength of our parent company, Advantage Insurance Inc., our team for our life insurance and captive management teams are dedicated to one outcome: the success of our clients.

Our Strengths

Specialized, expert service built upon over 25 years of operating history in our insurance businesses

Advantage’s leadership team has many decades of collective experience in our two lines of business. Our founder, Ian Kilpatrick, pioneered the application of captive insurance beyond traditional self-insurance programs in the 1970s and 1980s. Advantage also brought the benefits of segregated protected cell structures to life insurance policies. The experience and industry knowledge of our employees, along with our specialist focus, enable us to compete against much larger companies.


Our success depends on the success of our clients. Most Advantage team members work directly with clients or focus exclusively on client-related business. We take pride in our reputation for responsiveness, accuracy and integrity. A key component of our success is working with third-party professional services groups such as law firms, investment managers and financial advisors. Advantage understands the role of the insurance expert in serving client needs and does not attempt to displace other professionals in order to enhance its own fees or position with the ultimate client.


With offices in the United States, Puerto Rico, Bermuda and Cayman Islands, Advantage gives financial advisors the ability to select the insurance solution that best meets a client’s unique objectives and preferences.


Advantage’s senior managers have deep experience in the insurance and financial services industry. Most team members have work in client-facing roles and appreciate Advantage’s philosophy of providing first class client service.